It seems too good to be true: the chance to live in a lavish house without having to spend a single penny on a financially draining mortgage.

But one philanthropist claims he is planning to give his riches away.

The mystery tycoon says he has become so disheartened with the world he wants to hand over the deeds to his house in Eastville Avenue, Temple Fortune, to one “worthy” applicant.

Wanting to be referred to only as Mr Gregory, he says his family have “got lucky” and claims it is worth over £1m.

He said: “Things are happening in this country that I don’t like. People expect a lot for nothing and that’s why they haven’t got anything. I don’t like that so I want to see the right people move into this house.

“Absolutely anybody can apply, if you can prove you deserve it more than others.

“I want to stay anonymous as this isn’t a publicity stunt. I just want to help.”

Mr Gregory does not want to reveal how long he has lived in the house, or how many bedrooms and bathrooms the property has.

It features a 30ft extension, brand new windows and a new roof - although the front door is in need of a lick of paint.

Mr Gregory is looking for a person who can remain honest to others and themselves.

He says only a handful of people have made ever made it past the front door of the house as he and his wife choose to keep to their lives and home private.

But he says claims he is now ready to move to Estonia, where his family originate from, and retrace his roots in a country he says he adores.

His father, who he also wants to remain anonymous, was prominent in the football world and also owned car dealerships.

Having never owned a credit card or taken out a loan, he is wholly against the idea of borrowing from banks.

And he hates the idea of charities and charity shops where only ten per cent of profits are sent back to the charities they are designed to help.

But he is no stranger to charitable giving - he once donated a patch of land in Kettering for wildlife to roam free, and gave a hotel his family owned in Lincolnshire to a worthy cause.

The mystery philanthropist has also been in touch with the Royal Free Hospital, in Hampstead, to donate a large sum of money anonymously.

Before the end of the year, he also plans to hand over his wife’s very successful clothing firm to another lucky applicant who can prove they can enhance it.

In another generous move, he also wants to attend a 20-minute meeting with Stephen Lawrence’s mother - for whom he has enormous respect, the chief of police and the prime minister.

In return, he would select 100 people currently on benefits with the promise that within one month, 85 per cent of them will run their own businesses.

When asked why, he replied: “Because my family are honest, straight, and possibly brainless compared to the next generation - but we’ve been very successful. Very lucky.